Lifeward, previously ReWalk Robotics, gives a portfolio of exoskeletons for these with spinal twine accidents, mind accidents, a number of sclerosis, and extra. | Supply: Lifeward

ReWalk Robotics yesterday unveiled new company branding to formally start working as “Lifeward.” Starting at this time, the corporate’s shares start buying and selling underneath the “LFWD” ticker on the Nasdaq Inventory Market.

Lifeward has developed wearable methods for rehabilitation, restoration, and extra to deal with bodily limitations or incapacity. Its choices embody the ReWalk Private Exoskeleton, ReStore Exo-Swimsuit, and MyoCycle FES methods.

Based in 2001, the firm has workplaces in Marlborough, Mass.; Berlin; and Yokneam Illit, Israel.

Lifeward pivots following AlterG acquisition

The branding change follows the August acquisition of AlterG. Fremont, Calif.-based AlterG supplies “anti-gravity” methods to be used in bodily and neurological rehabilitation. The transaction added its present and future product strains to ReWalk’s portfolio of neurorehabilitation merchandise. 

Lifeward additionally stated it expects AlterG to considerably develop its customer-facing capabilities and advance future development alternatives.

“With the latest addition of modern options just like the AlterG Anti-Gravity methods to our portfolio, we have now surpassed the imaginative and prescient of our unique title,” acknowledged Larry Jasinski, CEO of Lifeward. “The transformation of ReWalk Robotics into Lifeward speaks to the broader objective of the corporate to be the driving pressure to raise the usual of care in overcoming bodily limitations and disabilities to empower people to do what they love.”

Chief Gross sales Officer Charles Remsberg added that the newly mixed business workforce now represents the firm‘s full portfolio.

“We imagine this can enable us to drive development for our enterprise by way of higher assist of our prospects throughout the rehabilitation spectrum,” he stated. “We’ve got a portfolio of modern options designed to help people in attaining their objectives by way of improved practical and well being outcomes – within the clinic in addition to in the neighborhood.”

ReWalk solidified Medicare protection

In November 2023, then-ReWalk Robotics introduced that the Facilities for Medicare & Medicaid Companies (CMS) finalized a rule benefitting its exoskeleton expertise. 

Earlier in 2023, CMS launched a proposal to determine a brand new regulatory definition of “brace” that might enable individuals to realize quicker entry to methods like Lifeward’s. The rule was finalized in November and went into impact in the beginning of 2024.

In it, CMS stated the exoskeleton modifications can expedite protection and cost for newer expertise and powered units. Particularly, it might assist these with disabilities related to muscular and/or neural situations. 

Editor’s be aware: This text was syndicated from MassDevice, a sibling website to The Robotic Report.